Malaysia legislation

Section 22

of SECURITIES COMMISSION (AMENDMENT) ACT 2015

Section 22

The principal Act is amended by inserting after section 18

the following section:

“Procedures of Board committee 18a. (1) The Board committee may elect any of its members to be the chairman and may regulate its own procedure and, in the exercise of its powers under this subsection, such committee shall be subject to and act in accordance with any direction given to the Board committee by the Board.

(2)

Meetings of the Board committee established under section 18 shall be held at such time, place and in such manner as the chairman of the Board committee may, subject to subsection (1), determine.

(3)

The Board committee may invite any person to attend any meeting of the Board committee for the purpose of advising the Board committee on any matter under discussion but the person so invited shall not be entitled to vote at any such meeting.

(4)

The members of the Board committee or any person invited to attend any meeting of the Board committee may be paid such allowances and other expenses as the Board may determine.”.

Amendment of section 20